Local Government Financing Vehicles

Lina Choi Senior Vice President Moody's Investors Service

Lina Choi is a Senior Vice President with the Corporate Finance Group for Moody’s Investors Service HK Ltd. She covers a portfolio of Chinese corporates in various sectors, including Internet, technology, food and beverage.

Before joining Moody’s, Lina worked as a senior investment analyst for AllianceBernstein Holdings LP, a US asset management company. She covered Chinese equities in the telecoms, media and technology sectors. Lina has also worked as an Executive Director at Morgan Stanley’s Equity Research Division, overseeing the Asian telecommunications industry.

Lina has an BA in Economics from the University of Chicago. She is a CFA charter holder.

Ada Li Vice President, Senior Credit Officer Moody's Investors Service

Ada Li is a Vice President - Senior Credit Officer with the Project & Infrastructure Finance Group, covering a portfolio of Chinese infrastructure companies across state-owned or privately-owned utilities, ports, railways, toll roads, and local government finance vehicles.

Before joining Moody’s, Ada worked as a Vice President at Deutsche Bank, where she oversaw Greater China corporates and financial institutions. Ada has also worked at Barclays Capital, where she covered Chinese financial institutions and commodity companies.

Ada holds a BBA in Accounting & Finance from The University of Hong Kong. She is also a CFA charterholder and a certified FRM holder.

Ivan Chung Associate Managing Director Moody's Investors Service

Ivan Chung is the Representative Director for Moody’s Investors Service in Hong Kong. In this role, Ivan ensures a sound and controlled operating environment and acts as senior representative and main contact point for key local and regulatory issues, both internally and externally.In addition to his Hong Kong role, Ivan also heads Moody’s Greater China Credit Research and Analysis (GCCRA) team, leading the analysis and research of evolving credit trends in China, and the developing onshore and offshore RMB bond markets. He also plays a key role in developing Moody’s analytical frameworks and research for China’s local government financing vehicles, and contributes to the analysis of Chinese regional and local governments.

Ivan first joined Moody’s in 1997 and rejoined in 2006. He has held senior analytical positions both in Moody’s Corporate Finance Group and Project and Infrastructure Finance Group, covering key Chinese state-owned enterprises invarious industries, including mining, properties, utilities, transportation and infrastructure.

Ivan holds a BBA from The Chinese University of Hong Kong and an MA from CityUniversity of Hong Kong. He is also a CFA charterholder.

Gene Fang Associate Managing Director, Sovereign Risk Group Moody's Investors Service

Gene Fang is an Associate Managing Director in the Sovereign and sub-sovereign Ratings Group in Asia. Based in Singapore, he manages the team that is responsible for sovereign credit ratings in the Asia Pacific region.

Before joining Moody’s, Gene worked as an investment banker, covering financial institutions for J.P. Morgan and Citigroup in Hong Kong and Singapore. In this role, he managed client relationships across Asia and advised on debt, equity, and M&A transactions.

Gene graduated from Columbia University in political science. He also holds an MBA from Harvard Business School and a Master in Public Policy from Harvard

University’s Kennedy School of Government.